Do you want to be Rich by these ideas?

FinanceUploaded 4 months ago

We all want to be rich but some people who are crazy become rich. We all wanted to learn their secrets of them and this blog provides the same. Moe was from a poor family and he want to learn what the rich did to become rich. He learned and implemented many ways. At last, he lists them all in his book: 6 Sundays a week life.

Book Link -- Book Link

Rule 1:💸Rich people pay themselves first

Robert Kiyosaki who is the author of Rich Dad Poor Dad also says that Rich people invest in themselves first.

🤔 But why do we need to invest in ourselves?

Robert says when we pay others first, we can compromise with our investment in ourselves but when you pay yourself first. You cannot compromise with paying others as others will kill you if you didn’t repay the loan.

Rule 2: 📔Rich knows how to keep, invest and multiply the money

Money is a different game. Rich respect money so much that they have financial advisors. But why do they?

Because they know that money compounds. So, you need to know the importance of money.

If you do not know how to care for money, money will stay away from you — Robert Kiyosaki

Rule 3: 🤯Rich become rich in their mind first

You can earn till where you can think — Harshvardhan Jain

You must be wondering why to think first instead of becoming first?

OK !!! You marry first or you think to marry first.

I hope you got the answer.

Rich 4: 😦Rich buy assets but poor buy liabilities

Poor spends money but Rich invest money

😎But what assets?

Assets are those things that make you money after doing investment done by you. Eg: Rental Property, Books Royalty, etc.

Liabilities are opposite to assets. That means that take out money. Eg Television.

Rule 5: 💳Rich don’t make debts

Rich knows that loan is a death trap to the world🌍. But the poor believe the opposite by the action. * Exceptions are there like Robert Kiyosaki knows how to use debt to make money.

😑But how we can now, we had taken a loan?

  • If you use credit cards. * Exceptions are there
  • If you take small loans thinking that you would pay them later * Exceptions are there

🥲But not to take a loan?

If you take loans, you may get into a depression trap😭. So, buy things at down payment until you know how to use debt (like Robert Kiyosaki )

🎉🎊You have read till here, so here is your gift.🎊🎉

🎁Bonus

Rich are givers.

Give first and then you’ll receive its compounded form but don’t give to receive. Give to be a Good Person.

Thanks for reading this blog. I hope you would have enjoyed it.